 "cheques, banking, banks, lending, company, firms, shares, stocks, shareholding")
A recent note by the ministry of finance seeking views from different stakeholders on whether dishonouring of a cheque should be de-criminalised has led to a raging debate. Bankers and lenders are expectedly opposed to the idea, fearing loss of deterrence, and diminishing sanctity and credibility of cheques as an instrument of transactions. A large section of the business community considers the criminal liabilities and penalties associated with dishonouring of a cheque more as an instrument of harassment by lenders.
The government over the years has been sympathetic to the idea of de-criminalising cheque-dishonour offence, more so in recent months
